FOR IMMEDIATE RELEASE
MARCH 7, 2010
CONTACT: TED O’MEARA
207.699.4401
ted@cutler2010.com
CUTLER PRAISES LEGISLATION TO INCREASE ACCOUNTABILITY AND ASSESSMENT OF TAX EXPENDITURE PROGRAMS
PORTLAND, Maine – Independent candidate for Governor Eliot Cutler today praised a bill currently before the Maine Legislature that would bring greater accountability to, and assess the impact of, Maine’s tax expenditure programs. Tax expenditures are revenue losses as a result of tax law provisions that allow special exclusions or deductions or that provide a special credit, preferential tax rate, or deferral of tax liability.
“Tax expenditures cost Maine taxpayers hundreds of millions of dollars each year, but these expenditures are essentially ‘off the books’ as they are paid out directly from revenue without the benefit of public hearing or discussion in the legislature,” Cutler said. “This bill would bring some long overdue accountability to tax expenditure programs in Maine.”
LD 1694, Resolve, To Increase Transparency and Accountability and Assess the Impact of Tax Expenditure Programs, forces some oversight by requiring a plan for evaluation to be brought forward by the outgoing Baldacci administration. The legislation is sponsored by Rep. Emily Cain (D-Orono), House chair of the Legislature’s Appropriations committee.
“Rep. Cain deserves high praise from Maine taxpayers for attempting to bring some accountability to the tax expenditure programs,” Cutler said. “I commend her for taking on this very complex and challenging issue.”
“If this legislation passes, the next Governor is going to be able to have a significant impact on these programs that do not appear in the budget and are not subject to the normal appropriations process,” Cutler said. “I welcome that opportunity.”
Tags: Taxes
